Compute the Cost of Goods Manufactured and Cost of Goods Sold for Strike Marine Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only direct materials. (Click the icon to view the date.) Start the calculation for cost of goods manufactured by calculating the direct materials used. Strike Marine Company Calculation of Direct Materials Used For Current Year Beginning raw materials inventory Plus: Purchases of direct materials Materials available for use Less: Ending raw materials inventory Direct materials used Calculate the cost of goods manufactured. Strike Marine Company Calculation of Cost of Goods Manufactured For Current Year Beginning work in process inventory Plus: Manufacturing costs incurred Direct materials used Direct labor Manufacturing overhead Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured Data Table $ 27,000 79,000 106,000 Beginning of Year End of Year End of Year 30,000 Raw materials inventory. S 27,000 S 30,000 Insurance on plant $ 10,500 $ 76,000 Work in process Inventory... S 36,000 $ 35,000 Depreciation-plant building and equipment $ 12,600 Finished goods inventory.... S 13,000 S 25,000 Repairs and maintenance-plant $ 3,500 Purchases of direct materials 5 79,000 Marketing expenses $ 75,000 Direct labor.... S 81,000 General and administrative expenses $ 28,500 Indirect labor 5 43,000 S 36,000 S 76,000 81,000 35,000 Print Done